Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1887-07-27
PACIFIC COAST.
Death OF TAYLOR, THE NOR
MON PRESIDENT.
Disastrous Forest Fires in Shasta
The Rapp Case-KilIed by
Log-Local Booms.
ESPECIAL DISPATCHES TO THE RrconD-uNros.l
THE RAILWAY INVESTIGATION.
Synopsis of Proceedings and the Testi
mony Taken Yesterday.

Synopsis of Proceedings and the Testi-
mony Taken Yesterday.
SAN FRANCISCO, July 26th.-The Pacific Rail-
way Investigating Committee resumed the in
vestigation of the Central Pacific Tuesday morn
ing III this city.
Secretary E. H Miller, Jr., of the Central
Pacific Railroad, was recalled. Reviewing the
memorandum of certain demands for docu-
ments, he enumerated those complied with and
explained the cases of others. He brought
articles of consolidation between the Western
Pacific and the San Francisco Bay Railroad
Company, dated October, 1869: n resolution of
consolidation between the California and Ore
gon and the Nuba Railroad Company, Decem-
Der, 1869; articles of consolidation between the
Central Pacific and Western Pacific Railroad
companies, June 26, 1870: articles of consolida-
ton between the San Francisco and Oakland
and San Francisco and Alameda Railroad
Companies, June IS 1870; articles between the
Central Pacific Railroad, California and Ore
gon Railroad San Francisco, Oakland and
Alameda Railroad, and San Joaquin Valley
Railroad Company. forming the Central Pacific,
August 20, 1870 The mortgages produced were
reviewed. One was dated 1865, on the road east
OF sacramento 10 miles, Another was dated
1867, on the line east OF the eastern boundary of
California. The bonds issued altogether
amounted on the two mortgages to about S25,-
600 0C0, payable at different periods and falling
due about 1895. Another mortgage was on the
California and Oregon line, dated January, 1886,
authorizing S, 600 issuance of bonds. and
falling due i'll January, 1888. Another LAND
Central Pacific. This authorized the issuance of
$40 coo bonds. and was dated October 1870.
In December, 1885, s4,630,000 bonds were out
standing. These will fall due in October, 1890.
In January, 1872, confirmatory mortgage was
given by the Central Pacific, authorizing the
issuance of 81 100000 bonds. In December, 1885,
S3,6SOG00 bonds were outstanding, to fall due in
January, 1892. This confirmatOry mortgage
was given because of the consolidation of
the California and Oregon and the Cen
tral Pacific, and the consequent assump-
frrN 1.Hr lgffa af ftNN
gage referred to previously of January, 1868.
This, it was explained, could therefore not be
regarded as q new mortgage. In October, 1885,
a mortgage was executed by the Central Pacific
according to the terms of the mortgage. but all
have now been cancelled. In October, 1886, n
mortgage was executed between the Central
Pacific and w. +. Brown and +. ;. Douty, tTus-
tees, authorizing the issuance of SIC 600, 600 in
bonds, falling due in fifty years from date. Now
only 81, ,065, ,0G0 of bonds are outstanding This
was a second mortgage on the land grants of the
company between Lathrop and Goshen and on
the California and Oregon line, as well as on
the telegraph lines and the rolling stock. Mr..
Miller produced mortgage executed October L,
1870, between the Central Pacific and D. o. Mills
and w. &. Ralston, trustees. This authorized
the issue of S60s0 900 in bonds, to fail due Octo-
Der, 1900. The full amount of these bonds was
outstanding in December 1885. The security
was the railroad land known as the
San joaquin grant. One dated October.
1864, for Sl,6C0,000, and bonds to that
amount were issued, Que III july, 1851, DUt
the time was extended. The line from
Sacramento to the eastern boundary line of the
State was security. In October, 1865, a mortgage
was given by the Western Pacific Railroad Com
pany. Only Sill 000 of the bonds are now out
standing, and falling due in December 1895.
The Western Pacific also gave a mortgage in
October, 1869 and bonds to the amount of 81
735 600 were authorized falling due in July. 1899.
Bonds amounting to 81, ,62f 600 are now outstand-
ing. The last mortgage produced was given by
the San Francisco, Oakland and Alameda road
in 1870, and authorized the issuance of 81 500 900
IN bonds falling due in July, 1890.
Mr.. Miller was questioned regarding the stock
OF the Central Pacific The stock authorized
amounted to 500. .000, coo, and OF this some s6S-
100000 was issued and is outstanding. Stock to
the amount of S76i, 600 is held in trust for the
company.
. ouments granting power-ofattorney to C.
p Huntington and various leases were pro-
duced. also a Central Pacific construction con-
tract with Silas Collins and pooling agreement
between the Central and Southern Pacific and
the Southern Pacific Coast roads, dated 1879.
| Other pooling agreements will be produced
When found. The original articles of associa-
tion of the Central Pacific Railroad Company,
dated June 2S, 1861, were produced. 1t specified
that the organization was for fifty years; capital
stock. SIS. 800, 600. in shares of 500 each.
Other documents called for were produced and
filed for reference. The Board will hold ses-
sions daily from 10 A. NJ. to P NJ. until the in
vestigation is concluded.